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Contents

Long Title

Part I PRELIMINARY

Part II MARKETS

Division 1 — Establishment of Markets

Subdivision 1 Approved exchange and recognised market operator

Subdivision 2 Exempt market operator

Division 2 — Regulation of Approved Exchanges

Subdivision 1 Obligations of approved exchanges

Subdivision 2 Rules of approved exchanges

Subdivision 3 Matters requiring approval of Authority

Subdivision 4 Powers of Authority

Subdivision 5 Immunity

Division 3 — Regulation of Recognised Market Operators

Division 4 — General Powers of Authority

Division 5 — Voluntary Transfer of Business of Approved Exchange or Recognised Market Operator

Part IIA TRADE REPOSITORIES

Division 1 — Licensing of Trade Repositories

Division 2 — Regulation of Licensed Trade Repositories

Subdivision 1 Obligations of licensed trade repositories

Subdivision 2 Rules of licensed trade repositories

Subdivision 3 Matters requiring approval of Authority

Subdivision 4 Powers of Authority

Subdivision 5 Immunity

Division 3 — Regulation of Licensed Foreign Trade Repositories

Division 4 — General Powers of Authority

Division 5 — Voluntary Transfer of Business of Licensed Trade Repository or Licensed Foreign Trade Repository

Part III CLEARING FACILITIES

Division 1 — Establishment of Clearing Facilities

Division 2 — Regulation of Approved Clearing Houses

Subdivision 1 Obligations of approved clearing houses

Subdivision 2 Rules of approved clearing houses

Subdivision 3 Matters requiring approval of Authority

Subdivision 4 Immunity

Division 3 — Regulation of Recognised Clearing Houses

Division 4 — Insolvency

Division 5 — General Powers of Authority

Division 6 — Voluntary Transfer of Business of Approved Clearing House or Recognised Clearing House

Part IIIA APPROVED HOLDING COMPANIES

Division 1 — Establishment of Approved Holding Companies

Division 2 — Regulation of Approved Holding Companies

Division 3 — Voluntary Transfer of Business of Approved Holding Company

Part IV HOLDERS OF CAPITAL MARKETS SERVICES LICENCE AND REPRESENTATIVES

Division 1 — Capital Markets Services Licence

Division 1A — Voluntary Transfer of Business of Holder of Capital Markets Services Licence

Division 2 — Representatives

Division 3 — General

Part V BOOKS, CUSTOMER ASSETS AND AUDIT

Division 1 — Books

Division 2 — Customer Assets

Division 3 — Audit

Part VI CONDUCT OF BUSINESS

Division 1 — General

Part VIA REPORTING OF DERIVATIVES CONTRACTS

Part VIB CLEARING OF DERIVATIVES CONTRACTS

Part VII DISCLOSURE OF INTERESTS

Division 1 — Disclosure of Interest in Corporation

Subdivision 1 Disclosure by directors and chief executive officer of corporation

Subdivision 2 Disclosure by substantial shareholders in corporation

Subdivision 3 Disclosure by corporation

Division 2 — Disclosure of Interest in Business Trust and Interest in Trustee-Manager of Business Trust

Subdivision 1 Disclosure by substantial unitholders of business trust

Subdivision 2 Disclosure by directors and chief executive officer of trustee-manager of business trust

Subdivision 3 Disclosure by holders of voting shares in trustee-manager

Subdivision 4 Disclosure by trustee-manager

Division 3 — Disclosure of Interests in Real Estate Investment Trust and Interests in Shares of Responsible Person

Subdivision 1 Disclosure by substantial unitholders of real estate investment trust

Subdivision 2 Disclosure by directors and chief executive officer of responsible person

Subdivision 3 Disclosure by holders of voting shares in responsible person

Subdivision 4 Disclosure by responsible person

Division 4 — Civil Penalty

Part VIII SECURITIES INDUSTRY COUNCIL AND TAKE-OVER OFFERS

Part IX SUPERVISION AND INVESTIGATION

Division 1 — Supervisory Powers

Subdivision 1 Powers of Authority to require disclosure of information about securities and futures contracts

Subdivision 2 Inspection powers of Authority

Subdivision 3 Inspection powers of foreign regulatory authority

Division 2 — Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.

Division 3 — Investigative Powers of Authority

Subdivision 1 General

Subdivision 2 Examination of persons

Subdivision 3 Powers to obtain information

Division 4 — Transfer of Evidence

Part X ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part XI INVESTOR COMPENSATION SCHEME

Part XII MARKET CONDUCT

Division 1 — Prohibited Conduct — Securities

Division 2 — Prohibited Conduct — Futures Contracts, Leveraged Foreign Exchange Trading

Division 3 — Insider Trading

Division 4 — Civil Liability

Division 5 — Attributed Liability

Subdivision 1 Corporations

Subdivision 2 Partnerships and limited liability partnerships

Subdivision 3 Officers, partners, etc., of entities

Subdivision 4 General

Division 6 — Miscellaneous

Part XIII OFFERS OF INVESTMENTS

Division 1 — Shares and Debentures

Subdivision 1 Interpretation

Subdivision 2 Prospectus requirements

Subdivision 3 Debentures

Subdivision 4 Exemptions

Division 1A — Business Trusts

Subdivision 1 Interpretation

Subdivision 2 Prospectus requirements

Subdivision 2A Recognised business trusts

Subdivision 3 Exemptions

Subdivision 4 Debentures

Division 2 — Collective Investment Schemes

Subdivision 1 Interpretation

Subdivision 2 Authorisation and recognition

Subdivision 2A Voluntary transfer of business of approved trustee

Subdivision 3 Prospectus requirements

Subdivision 4 Exemptions

Division 3 — Securities Hawking

Part XIV APPEALS

Part XV MISCELLANEOUS

FIRST SCHEDULE Market

SECOND SCHEDULE Regulated Activities

THIRD SCHEDULE Specified Persons

FOURTH SCHEDULE Specified Provisions

Legislative Source Key

Legislative History

Comparative Table

 
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On 19/09/2014, you requested the version in force on 19/09/2014 incorporating all amendments published on or before 19/09/2014. The closest version currently available is that of 01/05/2014.
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Civil penalty
232.
—(1)  Whenever it appears to the Authority that any person has contravened any provision in this Part, the Authority may, with the consent of the Public Prosecutor, bring an action in a court against him to seek an order for a civil penalty in respect of that contravention.
(2)  If the court is satisfied on a balance of probabilities that the person has contravened a provision in this Part which resulted in his gaining a profit or avoiding a loss, the court may make an order against him for the payment of a civil penalty of a sum —
(a)
not exceeding 3 times —
(i)
the amount of the profit that the person gained; or
(ii)
the amount of the loss that he avoided,
as a result of the contravention; or
(b)
equal to $50,000 if the person is not a corporation, or $100,000 if the person is a corporation,
whichever is the greater.
(3)  If the court is satisfied on a balance of probabilities that the person has contravened a provision in this Part which did not result in his gaining a profit or avoiding a loss, the court may make an order against him for the payment of a civil penalty of a sum not less than $50,000 and not more than $2 million.
(4)  Notwithstanding subsections (2) and (3), the court may make an order against a person against whom an action has been brought under this section if the Authority, with the consent of the Public Prosecutor, has agreed to allow the person to consent to the order with or without admission of a contravention of a provision in this Part and the order may be made on such terms as may be agreed between the Authority and the defendant.
(5)  Nothing in this section shall be construed to prevent the Authority from entering into an agreement with any person to pay, with or without admission of liability, a civil penalty within the limits referred to in subsection (2) or (3) for a contravention of any provision in this Part.
(6)  A civil penalty imposed under this section shall be paid into the Consolidated Fund.
(7)  If the person fails to pay the civil penalty imposed on him within the time specified in the court order referred to in subsection (4) or specified under the agreement referred to in subsection (5), the Authority may recover the civil penalty on behalf of the Government as though the civil penalty were a judgment debt due to the Authority.
[1/2005]
(8)  Any defence that is available to a person who is prosecuted for a contravention of any provision in this Part, shall also be available to a defendant to an action under this section in respect of that contravention.
[SIA, s.104A]